Stitch Raises $55M to Scale Payment Infrastructure Across Africa

Cape Town-based fintech Stitch has raised $55 million in fresh funding to accelerate the development of its end-to-end payment solutions for businesses across Africa. The new capital injection reinforces Stitch’s mission to simplify and unify digital transactions on the continent, where demand for streamlined financial services continues to surge.

The round includes a $4.2 million investment from African venture firm Raba Partnership, signaling strong investor confidence in Stitch’s long-term vision. “We are excited to back Stitch again as they continue building the infrastructure that powers digital payments across the continent,” said a representative from Raba Partnership.

Founded in 2019 by Kiaan Pillay, Natalie Cuthbert, and Priyen Pillay, Stitch provides a unified payments platform that allows businesses to seamlessly connect with banks and other financial institutions. Its technology simplifies payment integration and enables companies to offer a variety of payment methods, boosting both user experience and operational efficiency.

Stitch’s fundraising track record has been marked by steady growth. After raising $4 million in seed funding in early 2021 and another $2 million in a seed extension later that year to expand into Nigeria, the company secured a $21 million Series A in February 2022, led by The Spruce House Partnership. That was followed by a $25 million Series A extension in October 2023, led by Ribbit Capital, bringing its total Series A funding to $46 million.

In January 2025, Stitch deepened its capabilities by acquiring Exipay, a provider of in-person payment solutions. The acquisition marked Stitch’s entry into offline payments, with Exipay’s platform rebranded as "Stitch In-Person Payments" — a product aimed at large enterprises managing physical transactions.

With this latest funding, Stitch is set to double down on product development and geographic expansion. Its growing suite of solutions continues to play a pivotal role in shaping Africa’s digital economy — bridging gaps in infrastructure and creating more inclusive access to modern financial tools.